"It is not what you earn, that determines what you become. It is what you do with what you earn”


Most people fail to realize this. They put so much thought into how much they are earning instead of thinking of ways to improve on their current income.

It has been proven severally that a person’s income isn’t a determinant of their financial success.

Earning a higher income only makes it faster to attain your financial goals.


For instance, a person earning $10000 monthly will save up money for business faster than someone that earns $2000.

That doesn’t mean that the man earning $2000 won’t save up to that. It will only take more months or years.



How to become rich with your current pay
The person earning lower may even start small and grow the business over time.

It all depends on your mindset….



For you to attain financial freedom, you need to have a change of mindset and see things differently.



Here are some things that can help.

Save and increase your savings gradually
Your Savings Is Your Only Way to Financial Freedom. People spend years on the same job with nothing to show for it.

They earn and spend it all before the end of the month and continue the cycle next month.
You can never achieve financial freedom with such mentality.

You need to entrench the habit of saving a part of your income, whether daily, weekly, or monthly.

If women who earn little sums can save part of it to invest in their business, how much more a salary earner whose money comes in bulk every month.


Read Five Reasons You Go Broke Before The End of The Month.


If you are working and have no other source of income asides your salary, then there is trouble.

What happens if you are retrenched?
What happens if your company is unable to pay you for a month?



I know these are pessimistic thoughts, but in reality, it happens. In 2016, a neighbor brought a new air conditioner to my place, looking to sell.

This man had three cars and worked with a top company until he was retrenched due to the economic downturn.

Just three months after he stopped working, he started selling things.

It was when he brought the air condtioner to sell that he told me he had sold two of his cars.

I was surprised. What will make a man who was earning almost 400k go broke in a few months? Lack of savings…

He always got his paycheck and used it to buy expensive things for the house without saving. Fortunately, he was called back to his job.


I chatted him one day about the need to save, and he said he had learned his lessons.
Saving part of your income is extremely important. You can either learn from knowledge or learn from experience like my neighbor.



Use a Budget to Save Properly
Budget isn’t something new. You are already living within a budget, whether you like it or not.
When you earn a salary of $2,000 or $10,000, you try as much as possible not to spend above what you earn. Your spending is restricted by your income.


If you want to spend above your income, you have to borrow.
If that isn’t living within a budget, then I don’t know what it is.


Read 5 Top Saving Mobile Apps for Nigerians


I’m not asking you to do something new.

Budgeting only helps you to give your spending a proper shape. So you can save part of it.
Determine what to spend with the $2000 before it comes.

If you are not saving part of whatever you earn as a youth, you are setting yourself up for a disaster. When a wife or husband comes along, the responsibility expands geometrically.

Freedom from anything comes at a price; in this case, the cost of regulating your expenditure. Having a budget allows you to achieve this.


It will be very easier to save up a considerable sum if you can follow a simple budget.

Think of all the wages and bonuses you have received over the years, can you remember how you spent them? I can bet you don’t know because you just spent it as it came.

If a country with billions of dollars to spend needs a budget, how much more you with a few thousand.



Further Read:
Here is How to Prepare a Simple Monthly Budget
How To Keep to Your Budget[/b]


Track your money
The more thought you put into your money, the better you become at regulating your spending and attaining higher returns on your expenditure.

If you carefully scrutinize your expenditure, you will realize that you spend so much money on things you necessarily don’t need.

Working with a budget helps you track where your money goes. People are surprised when

I tell them that feeding consumes most of their budget. They don’t know because they don’t track their spending.



If you don’t track what you spend, then how can you plan to achieve your goals?

http://financenuggets.com/how-you-can-become-rich-with-your-current-earning/

Lovely very insightful article.

This are the sort of articles that should be on front page. Not BBnaija.


Mynd44 Seun lalasticlala OAM4J